elaine chao served as george w. bush's secretary of labor. >> what would you do to create more jobs in america? >> i think you have to keep the tax rate low. they're a direct burden on the resources of an employer. the unemployment rate has dropped to 7.7% but that's primarily because the labor rate has dropped to 6.3%. one of the lowest we have seen in current years. so what we're seeing actually is a lot of discouraging workers, people who can't find jobs and they've given up, they're no longer working and they're not included the work force. it's the private sector who does the bulk of the hiring and they've got to have the confidence and that confidence coming from a more reasonable taxation level, more reasonable regulatory reform, and then also the fiscal discipline that we need in our country to restore our country's overall financial ratings. >> democrats say what's most important is a stable predictable set of rules, whatever the levels of taxation. steven rattner helped general motors get back into the bla